Its not possible to overclock the droids processor yet because it requires a different kernel. Hopefully we will see a rom with this capability soon. The droid's cpu is underclocked by 50 mhz, but I was told that 50 mhz is not enough to tell a difference performance wise (but it does help with battery life).

Overclocking right now is not possible. Like said earlier there is a kernel needed in order to actually overclock the processor. Also said earlier, the Droids processor right now is actually underclocked by 50 mhz to conserve battery and still perform very fast. At this point unless you are going to run the 2600 mAh or higher there is no real reason you should want to overclock the processor because it will just eat up the life of your battery.

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